roca1018
163 posts
msg #36941
- Ignore roca1018 |
7/15/2005 7:29:44 AM
I understand the use of pivot points , support lines and resistance lines and use this to go long or short on the Naz comp. I don't see the battle lines as effective on any consistent basis. Show me 2 weeks of data on RIMM that illustrate
buying support or selling resistance with the .2 and .8 equation.
Rich
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TheRumpledOne
6,411 posts
msg #36945
- Ignore TheRumpledOne |
7/15/2005 9:25:57 AM
roca...
If you have eSignal, TradeStation or any other charting service that would allow you to draw battlelines, then draw them on a 15 minute chart of RIMM.
If you have TradeStation, you can load my indicators and workspace and follow along...
How to use the SLOTMACHINE GRIDIRON workspace:
1) load in the ticker for the stock you want to trade, in the RadarScreens and the charts.
2) The color of the CURRENT 15 minute candle determines "who has the ball"...
GREEN = buyers have the ball
RED = Sellers have the ball
Remember a football "quarter" is 15 minutes.
In the upper right, you will see a TRADE column. When it says WAIT, just sit there and wait... trust it. When it says trade, you trade with the team that DID NOT HAVE THE BALL LAST QUARTER.
So if the previous 15 minute candle was RED (sellers), you trade with the buyers (long). You place your trade when the TRADE column says TRADE... DO NOT HESITATE!
Now here comes the hard part... you must really trust the system to reap maximum profit. Place a sell limit order (if long) or a buy to cover limit order (if short) at the next gridiron line. It's that simple. You will be tempted to exit early (voice of experience here) but if you do, you will miss out on gains (happens to me more than not).
Another trading option is to place an order to sell 1/2 your position. That way, if your team keeps marching down the field, you make more money.
The reason I have 5 and 15 minute charts is just to watch the plays.
A 1 minute chart causes overreaction on my part. But a 5 minute chart clearly shows if my team is moving the ball or losing ground.
The TRADE occurs from one line to the next, it's that simple. DON'T FORGET THE 50 YARD LINE!
I created this strategy on July 8, 2005 and my win/loss ratio to date is 8:1 or better when I strictly adhere to the strategy and my equity curve is at about a 30 degree angle.
Check this out..
6.5 trading hours per day.
4 trades per hour per stock skip first and last trade of the day.
24 trades a day.
Make $.10 per share per trade. Very conservative estimate.
24 times 100 times $.10 = $240.00 I can do that.
24 times 1000 times $.10 = $2400.00 I can do that too.
Do that on 10 stocks... $24,000.00 AutoAvery will do that.
Do that on 100 stocks... $240,000.00 That's a lot of BP!!
MAY ALL YOUR FILLS BE COMPLETE.
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BigOh
23 posts
msg #36951
- Ignore BigOh |
7/15/2005 8:10:19 PM
roca1018,
The filter gives out different stocks each day. Each of these stocks is affected differently each day by other events. For the past week GE has been a real good one for me, but today, with the earnings news the "Battle lines" weren't very good, today. This filter has been nothing but a money maker. Use the Sl's and RL's in SBC for the past week. I have been jumping in and out in big blocks making a dime here and there and it got me into a bigger move that gave me .25 on 20k shares.
For scalping, this is a great filter, I have even started to apply it to the Muddy style bottom picks once I've entered them, and it has been a fairly good tool.
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shelupinin
120 posts
msg #36968
- Ignore shelupinin |
7/18/2005 5:24:17 AM
nobody want to share own filters :((
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roca1018
163 posts
msg #36975
- Ignore roca1018 |
7/19/2005 6:33:33 AM
Big Oh, Rumpled One
I'm glad that the filter is working well for you. I don't have esignal,
tradestation etc.. and I work full time so I am somewhat limited in terms
of options.
Rich
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